Hedge Fund Exec Lists Hamptons Estate for $70 Million

the hedge-fund manager who paid a record price for a home in East Hampton in 2014, is putting his previous Hamptons home on the market for $70 million.

The oceanfront home is just off Lily Pond Lane, one of the Hamptons’ best known streets. Hedge-fund manager

Scott Bommer

sold three properties there for $110 million last year, records show.

The total living space of Mr. Rosenstein’s property comprises 13,623 square feet, according to the listing agents,

Tal Alexander

and

Oren Alexander

of Douglas Elliman. The facade of the seven-bedroom, 9½-bathroom home is coated in cedar panels with custom stains. There are pavilions, winding paths, private ocean access and a 62-foot lap pool. On the grounds, there is a two-bedroom guest cottage plus an additional structure comprising an office, a garage and an exercise room.

Mr. Rosenstein bought the site for $19.2 million in 2005, records show. He replaced a 1920s-era cottage on the property with a modern beach house designed by

Rick Cook

of CookFox Architects, the same firm behind the Bank of America Tower on Bryant Park.

Mr. Cook, who said he rarely designs private residences, said Mr. Rosenstein wanted a high-performance, sustainable home that still incorporated the tradition and comfort of an old shingle style property. The architect incorporated lessons he learned from designing the Ross Institute Center for Well-Being in East Hampton, including a geothermal cooling system, he said.

Mr. Alexander said his client was selling because he was moving on to a larger home. Mr. Rosenstein, founder of Jana Partners, ​an activist hedge fund that has invested in companies such as Whole Foods and Blue Apron, ​set the record for the most expensive home ever sold in America in 2014 when he bought the Further Lane property, according to appraiser

Jonathan Miller.

The closing price was $137 million, though it was inaccurately reported in press reports as $147 million, according to Mr. Alexander and public records. Mr. Rosenstein is building a new mansion on the site, also designed by Mr. Cook.